Kopin Corporation and HMDmd Enter Development Agreement with Major US Medical Technology Company to Develop Wearable Display System for Surgeons
WESTBOROUGH, Mass.(February 22, 2021) – Kopin® Corporation (NASDAQ: KOPN), a leading developer of high-resolution microdisplays, display subassemblies and head-mounted display systems, and HMDmd, INC., an innovator and developer of wearable display technology for surgeons, announced today they have signed an agreement with a major medical technology company to design a precision head-worn display system, The device, based on Kopin’s proprietary platform, will be integrated with the company’s advanced surgical systems.
HMDmd, based in San Diego, is an early-stage company focused on bringing to market wearable display products, engineered and customized specifically for integration into advanced robotic and endoscopic surgical systems. Kopin, which has licensed its intellectual properties in wearable display technologies and systems for surgical uses, holds warrants for a significant minority equity position in HMDmd.
The goal of the partnership is to develop a head-worn display system which allows surgeons to physically maintain a more comfortable position during surgery while accessing high-resolution real-time information such as video images from a camera in the surgical field, diagnostic images and patient-specific data. The system aims to reduce fatigue for surgeons caused by frequently lifting and turning their heads to look at conventional monitors.
The arrangement between Kopin and HMDmd further strengthens Kopin’s approach to support partners with application-specific solutions to shorten product development. Kopin leverages its years of experience and expertise with sophisticated military training and simulation systems. This expertise in human visual response, ergonomics, optical system design and packaging is critical to developing a head-worn display system optimized for surgical applications.
“We are very pleased to initiate development of the first product for this leading medtech company,” said John Lyon, CEO of HMDmd. “We have already demonstrated a concept version of the display system to surgeons and prospective distribution partners and have received a very positive response from the market. Our goal is to be a leader in wearable medical-grade display systems, which will be a key information platform for surgeons working in the integrated operating room of the near future.”
“We are excited to develop this customized high-performance display system for surgical applications,” said Dr. John C.C. Fan, CEO of Kopin. “We believe the combination of our expertise in display system design with HMDmd’s deep knowledge of the specific needs of surgeons is crucial for developing a display system optimized for surgeons. We believe HMDmd’s strong medical device experience and market access should facilitate rapid adoption.”
Kopin Corporation is a leading developer and provider of innovative display and optical technologies sold as critical components, subassemblies and systems for military, industrial and consumer products. Kopin’s technology portfolio includes ultrasmall Active Matrix Liquid Crystal displays (AMLCD), Ferroelectric Liquid Crystal on Silicon (FLCOS) displays and Organic Light Emitting Diode (OLED) displays, a variety of optics, and low-power ASICs. For more information, please visit Kopin’s website at www.kopin.com.
Kopin is a trademark of Kopin Corporation
About HMDmd, Inc.
HMDmd is an early-stage company based in San Diego, California and is composed of an experienced medical device team. The Company is entirely focused on developing and commercializing wearable display systems for surgery, interventional medicine and other medical specialties and applications. The product line plan includes medical grade XR, VR, AR and MR versions. HMDmd’s business model is primarily to enter into strategic distribution partnerships with companies seeking to incorporate OEM or customized versions of HMDmd’s products into their proprietary medical systems.
Statements in this press release may be considered “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the safe harbor created by such sections. Words such as “expects,” “believes,” “can,” “will,” “estimates,” and variations of such words and similar expressions, and the negatives thereof, are intended to identify such forward-looking statements. We caution readers not to place undue reliance on any such “forward-looking statements,” which speak only as of the date made, and advise readers that these forward-looking statements are not guarantees of future performance and involve certain risks, uncertainties, estimates, and assumptions by us that are difficult to predict. These forward-looking statements may include statements with respect to: our belief that the combination of our expertise in display system design with HMDmd’s deep knowledge of the specific needs of surgeons is crucial for developing the display system optimized for surgeons; and our belief that HMDmd’s strong medical device experience and market access should facilitate rapid adoption. Various factors, some of which are beyond our control, could cause actual results to differ materially from those expressed in, or implied by, such forward-looking statements. All such forward-looking statements, whether written or oral, and whether made by us or on our behalf, are expressly qualified by these cautionary statements and any other cautionary statements that may accompany the forward-looking statements. In addition, we disclaim any obligation to update any forward-looking statements to reflect events or circumstances after the date of this press release, except as may otherwise be required by the federal securities laws. These forward-looking statements are only predictions, subject to risks and uncertainties, and actual results could differ materially from those discussed. Important factors that could affect performance and cause results to differ materially from management’s expectations are described in Part I, Item 1A. Risk Factors; Part II, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations; and other parts of our Annual Report on Form 10-K for the fiscal year ended December 28, 2019, or as updated from time to time in the Company’s Securities and Exchange Commission filings.
BIOMEDevice San Jose Announces 2019 Content to Support Digital Health Innovation Enhancing the Patient Experience
Comprehensive two-day event to host industry-led sessions and feature leading brands revolutionizing the $509.2 billion industry
Santa Monica, Calif. (November 14, 2019) – BIOMEDevice San Jose, Silicon Valley’s leading event for medtech professionals, today announced its 2019 show focus on digital health solutions and related technologies. Throughout the two-day event, a series of sessions, presentations, panels, and case studies will be presented by industry innovators and thought leaders, addressing healthcare’s growing convergence with digital technologies, how to accelerate these product’s speed-to-market, and finding the resources to scale. With the spotlight on digital health technologies including artificial intelligence, augmented and virtual reality, wearables, and much more, attendees will have the opportunity to learn from and network with the leading minds driving meaningful advancements in healthcare. BIOMEDevice San Jose will take place December 4 and 5 at the San Jose Convention Center in San Jose, CA. To register as press for BIOMEDevice, please visit: sanjose.im.informa.com/2019/Media.
The global digital health market is forecasted to be valued at $509.2 billion by 2025 according to Grand View Research. Supporting this impressive growth, BIOMEDevice San Jose seeks to foster digital health innovation by connecting thought leaders in the digital health space today with over 250 prominent exhibiting companies. Attendees will have access to representatives from Microsoft, Onyx, Samtec, Vision Components, Zimmer & Peacock, among many more. To view the full exhibitor list, please visit here.
Today, digital health plays a foundational role in improving the performance of minimally invasive surgery. HMDmd CEO John R. Lyon and his co-founder will present their latest developmental pathway in creating a medical grade wearable display for surgery and interventional medicine at BIOMEDevice San Jose. The HMDmd wearable display, apart from the fundamental requirement of providing a high definition natural 3D view of the operative field, will enable a response to two important additional demands that is the necessity to significantly enhance for the surgeon the ergonomics of performing minimally invasive surgery and to provide critical decision support data during the case in real time and presented on the display screen in a “heads-up” format.
“BIOMEDevice San Jose supports this rapidly transforming industry, providing a platform for today’s leading digital health innovators to make rapid progress towards significant improvement in patient care and treatment,” said Lyon. “As surgeons and interventional physicians seek to provide the most effective treatments for their patients, digital developments in visualization, such as HMDmd’s next-generation wearable display, help enable a higher level of precision minimally invasive and robotic surgery.
BIOMEDevice San Jose 2019 Digital Health Content Includes:
Digital Health: Beyond the Worried Well (Keynote Panel) In the last five years the digital space has turned its focus and investment to healthcare from the consumer health and wellness market. From applications to wearables, digital health devices are taking over Silicon Valley and are set to change the future of healthcare. In this session, a premier panel of experts from Microsoft, Verily, AT&T, and more will engage in a comprehensive discussion of digital health devices for healthcare.
Wearable devices are quickly expanding into a broad range of areas in healthcare, from homecare and remote monitoring to wearables for surgical procedures. The rapid stream of new technologies available today also helps support wearable devices and plays a huge role in the application across many areas. Find out more about how wearable devices are impacting diagnosis, monitoring, and even treatment of some chronic diseases. The presentation will also explore how 5G technology will support wearables and how the miniaturization of electronics is enabling design of more reliable and adaptable wearables.
Developing a Wearable Display for Surgeons (Live Demonstration) Cameras and screens have been used to augment surgeons’ vision for years, enabling them to see magnified surgical sites for greater precision. But as helpful as on-screen technology can be, it can also be challenging ergonomically as surgeons struggle to operate comfortably while moving around to look at the screens. Working closely with surgeons, HMDmd. CEO John R. Lyon and Senior Vice President Allen Newman developed a medical-grade head-mounted wearable display that uses 3D and high-resolution OLEDs to improve visualization and ergonomics for surgeons during surgery. Both John and Allen will take a deep dive into their development journey, clinical utilization, and live demo of the display.
The Growing Artificial Intelligence Application Across Medical Devices (Panel) As the healthcare industry advances with emergence of new technologies, the amount of data that these innovations create is also growing exponentially. Many companies will turn to the application of artificial intelligence (AI) to develop devices that will help with the acquisition, analysis, and integration of data to find the way to precision medicine. In this session, experts will explore this exciting space to gauge the potential of AI for medical devices and discuss the ways in which AI stands to change the healthcare landscape and what medtech companies will need to do to adapt. Topics covered include specific AI applications in radiology, surgical robotics, chronic disease, drug discovery, and neurological disorders, challenges AI presents for patients, doctors, payers, and other stakeholders, and the ways AI can impact patient behavior experience.
How Sensors Support the Wearables Revolution (Panel) A panel of sensor technology experts including representatives from eWEAR by Stanford University, Profusa, Samtec, Masimo, IBM, and more will gather to discuss the role of smart sensors in the massive rollout and application of wearable devices throughout the healthcare landscape. Panelists will highlight how sensors are advancing IoT applications and in turn wearable devices, types of sensors for in-home monitoring, and the types of sensors relevant for smart drug technologies.
To view the entire BIOMEDevice San Jose schedule please visit here.
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HMDmd and Kopin Announce Development of Superior Performance Wearable Display Product Line for Medical Applications
Vista, CA . May 22, 2019
First model is Extended Reality Wearable Display, with high resolution and 3D capability, for visualization in advanced surgical and interventional procedures
Vista, CA. May 22, 2019 – HMDmd Inc., formed by members of the executive team which commercialized the first medical head mounted display cleared for marketing by the FDA, now announces that development has commenced of the next generation of high performance, wearable displays for medical applications, supported by the proprietary technology, engineering and manufacturing resources of Kopin Corporation (KOPN). Kopin is a leading provider of innovative display technologies and critical components for integration into wearable computing systems for military, professional and consumer products.
John R. Lyon, CEO of HMDmd, said: “a superior performance, specifically designed, medical grade XR wearable display is an important complement to the new technologies which are rapidly transforming surgery and interventional medicine in today’s integrated operating rooms. Lightweight, ergonomic, high resolution, 3D-capable displays are a command and control interface with the systems and information enabling today’s complex minimally invasive procedures, particularly those involving robotics, image guidance and real-time access to critical data.”
The CEO of Kopin, Dr. John C.C. Fan, a global pioneer in wearable AR and VR systems, said: “to be effective in critical applications such as surgery, wearable systems must not only include the highest performance components available but must be designed to take account of the specific human factors involved. Our extensive experience with military and professional systems translates very well in producing optimal modules, which include our proprietary optics and displays, for surgery and interventional medicine. We look forward to partnering with HMDmd in developing high-performance products for this demanding market. “
HMDmd is a Delaware registered corporation based in Vista, CA. The Company is entirely focused on developing and commercializing wearable display systems for surgery, interventional medicine and other medical specialties and applications. Our complete product line will include medical grade XR, VR, AR and MR versions. Our business model is primarily to enter into strategic distribution partnerships with companies seeking to incorporate OEM or customized versions of our displays into their proprietary systems which are directed to specific applications. For additional information please visit our website at www.hmdmd.com or call John Lyon at 760-518-1132.
HMDmd will also be present in Kopin’s booth at AWE USA 2019, AR/VR Conference and Expo in Santa Clara, CA, May 29-31, 2019.
Kopin Corporation is a leading developer and provider of innovative wearable technologies and critical components for integration into wearable computing systems for military, industrial and consumer products. Kopin’s technology portfolio includes ultra-small displays, optics, speech enhancement technology, voice-interface and hands-free control software, low-power ASICs, and ergonomically designed smart headset reference systems. Kopin’s proprietary components and technology are protected by more than 300 global patents and patents pending. For more information, please visit Kopin’s website at www.kopin.com.
Forward-Looking Statements in this press release may be considered “forward-looking” statements under the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. These include, without limitation, statements relating to our expectation that Kopin and HMDmd will develop and commercialize the next generation of wearable or head mounted displays (HMD) designed for advanced medical and surgical use, our belief that we are continuing to see new opportunities for AR systems in the enterprise and safety markets, and those opportunities are now expanding to include the medical field; and our belief that HMDmd will establish strategic distribution partnerships with medical technology companies that wish to include high resolution wearable displays in their proprietary systems. These statements involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. These risks and uncertainties include, but are not limited to, that Kopin and HMDmd may not be able to develop and commercialize the next generation of head mounted displays (HMD) designed for advanced medical and surgical use; that there may not be new opportunities for AR systems in the enterprise and safety markets, and they may not be expanding to include the medical field; HMDmd may not establish strategic distribution partnerships with medical technology companies that wish to include high resolution wearable displays in their proprietary systems; there may not be demand for our products; there may be issues which prevent the development or commercialization of products; customers may choose competitor products and other risk factors and cautionary statements listed in Kopin’s periodic reports and registration statements filed with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the 12 months ended December 31, 2018, and Kopin’s subsequent filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Kopin and HMDmd and only as of the date on which they are made. We undertake no obligation to update any of these forward-looking statements to reflect events or circumstances occurring after the date of this release.